Form in color: the Audi R8 V10 2009 Financial Calendar Quarterly Report, 1st quarter 2009 April 27, 2009 Annual General Meeting May 13, 2009 Customer Center at Audi Forum Neckarsulm Interim Financial Report July 31, 2009 Quarterly Report, 3rd quarter 2009 October 30, 2009 Audi 2008 ANNUAL REPORT PIONEERING SPIRIT A new lightness in car design. AUTHENTICITY Clint Eastwood makes self-will his trademark. ORIGINS 100 years of Audi. EFFICIENCY Endurance test for TDI clean diesel. PROGRESSIVENESS Technology meets design. One annual report – 49 x Vorsprung. Vorsprung durch Technik www.audi.com AUDI AG Financial Communication/ 85045 Ingolstadt Financial Analysis Communications Germany I/FF-12 I/GP Audi 2008 Annual Report Phone +49 (0)841 89-0 Phone +49 (0)841 89-40300 Phone +49 (0)841 89-34084 Fax +49 (0)841 89-32524 Fax +49 (0)841 89-30900 Fax +49 (0)841 89-44040 email [email protected] email [email protected] email [email protected] Form in color: the Audi A5 Cabriolet 2009 Financial Calendar Quarterly Report, 1st quarter 2009 April 27, 2009 Annual General Meeting May 13, 2009 Customer Center at Audi Forum Neckarsulm Interim Financial Report July 31, 2009 Quarterly Report, 3rd quarter 2009 October 30, 2009 Audi 2008 ANNUAL REPORT PIONEERING SPIRIT A new lightness in car design. AUTHENTICITY Clint Eastwood makes self-will his trademark. ORIGINS 100 years of Audi. EFFICIENCY Endurance test for TDI clean diesel. PROGRESSIVENESS Technology meets design. One annual report – 49 x Vorsprung. Vorsprung durch Technik www.audi.com AUDI AG Financial Communication/ 85045 Ingolstadt Financial Analysis Communications Germany I/FF-12 I/GP Audi 2008 Annual Report Phone +49 (0)841 89-0 Phone +49 (0)841 89-40300 Phone +49 (0)841 89-34084 Fax +49 (0)841 89-32524 Fax +49 (0)841 89-30900 Fax +49 (0)841 89-44040 email [email protected] email [email protected] email [email protected] Form in color: the Audi Q5 2009 Financial Calendar Quarterly Report, 1st quarter 2009 April 27, 2009 Annual General Meeting May 13, 2009 Customer Center at Audi Forum Neckarsulm Interim Financial Report July 31, 2009 Quarterly Report, 3rd quarter 2009 October 30, 2009 Audi 2008 ANNUAL REPORT PIONEERING SPIRIT A new lightness in car design. AUTHENTICITY Clint Eastwood makes self-will his trademark. ORIGINS 100 years of Audi. EFFICIENCY Endurance test for TDI clean diesel. PROGRESSIVENESS Technology meets design. One annual report – 49 x Vorsprung. Vorsprung durch Technik www.audi.com AUDI AG Financial Communication/ 85045 Ingolstadt Financial Analysis Communications Germany I/FF-12 I/GP Audi 2008 Annual Report Phone +49 (0)841 89-0 Phone +49 (0)841 89-40300 Phone +49 (0)841 89-34084 Fax +49 (0)841 89-32524 Fax +49 (0)841 89-30900 Fax +49 (0)841 89-44040 email [email protected] email [email protected] email [email protected] Audi Group Key Figures 2008 2007 Change in % Production Cars 1,029,041 980,880 4.9 Engines 1,901,760 1,915,633 -0.7 Vehicle sales Cars 1,223,506 1,200,701 1.9 Audi brand 1,003,469 964,151 4.1 Germany 258,111 254,014 1.6 Outside Germany 745,358 710,137 5.0 Lamborghini brand 2,430 2,406 1.0 Other Volkswagen Group brands 217,607 234,144 -7.1 Employees Average 57,533 53,347 7.8 Revenue EUR million 34,196 33,617 1.7 Profi t from operating activities EUR million 2,772 2,705 2.5 Profi t before tax EUR million 3,177 2,915 9.0 Profi t after tax EUR million 2,207 1,692 30.4 Operating return on sales Percent 8.1 8.0 Return on sales before tax Percent 9.3 8.7 Return on investment Percent 19.8 18.6 Total capital investments EUR million 2,486 2,115 17.5 Capitalized development costs 547 497 10.1 Depreciation and amortization EUR million 1,908 2,287 -16.6 Cash fl ow from operating activities EUR million 4,338 4,876 -11.0 Balance sheet total at Dec. 31 EUR million 26,056 22,578 15.4 Equity ratio at Dec. 31 Percent 39.6 37.0 //////// EDITORIAL ////////////////////////////////////////////////////////////////////////////// 2008 was a remarkable year in quite a number of ways. For the first time ever, Audi’s vehicle deliveries broke through the one million barrier, the crowning achievement of a 13th successive record-breaking year. And this was also the year in which the Audi brand took its product portfolio to a new level by adding a large number of attractive new models. As well as unveiling completely new vehicles, such as the A3 Cabriolet, the A4 Avant and the Audi Q5 performance SUV, we carried out a thorough update of our core car lines A3 and A6, and brought numerous sporty derivative versions onto the market. 2008 turned out to be exactly as we had planned from the out- set: a thoroughly successful year in which passionate enthusi- asm for our exceptional cars once again brought us a whole lot closer to achieving our ambitious strategic objectives. All the same, we were not left unscathed by the global eco- nomic crisis. Whatever happens in this current year, one thing is certain: We will steadfastly adhere to our unique Audi approach – innovative, progressive, cosmopolitan and responsible. All these qualities are mirrored in our Annual Report, in which leading authors probe intriguing aspects of the past, present and future. In addition, the financial section provides informa- tion about our economic development and the record figures achieved in the past year. I wish you an interesting and entertaining read. Kind regards Rupert Stadler Chairman of the Board of Management Photos: Klaus Becker (cover), Claudia Kempf, Andreas Teichmann (pages 4 and 5) Teichmann Andreas Claudia Kempf, (cover), Photos: Klaus Becker //////// REPORT OF THE SUPERVISORY BOARD /////////////////////////////////////////////////////////////////////////////// April 10, 2008. All ten sitting employee representatives on the Supervisory Board were re-elected. The election of stockholder representatives took place at the Annual General Meeting on May 7, 2008. Holger P. Härter, Prof. Ferdinand K. Piëch and Dr. Wendelin Wiedeking were elect- ed as new members of the Supervisory Board. The term of office of all Supervisory Board members ends with the close of the Annual General Meeting, which is to give dis- charge for the 2012 fiscal year. At its constituent meeting on May 7, 2008, the Supervisory Board re-elected Prof. Dr. Martin Winterkorn as its Chairman and Berthold Huber as Deputy Chairman. The Negotiating Committee pursuant to Section 27, Para. 3 of the German Codetermination Act and the Audit Committee pursuant to Section 5.3.2 of the German Corporate Governance Code were also elected. In the past fiscal year, the Board of Management provided the Supervisory Board with regular, up-to-date and com- prehensive accounts of its actions. All decisions fundamen- tally important to the Company were discussed in depth between the Board of Management and the Supervisory Board. The Supervisory Board reviewed and held extensive discussions with the Board of Management on the eco- nomic situation of the Company, the development of sales markets, the business policy and risk management ap- proach, together with the risk exposure of the Company, at Prof. Dr. rer. nat. Martin Winterkorn Chairman of the Supervisory Board quarterly meetings throughout 2008 and also on the basis of regular, detailed oral and written reports from the Board of Management. All members were present at more than half of the meetings. The Supervisory Board reached decisions on business developments requiring urgent con- sideration by written circular. The members of the Presid- ing Committee held extensive consultations before each Supervisory Board meeting. The Negotiating Committee did not need to be convened in the 2008 fiscal year. The Audi Group succeeded in maintaining the growth of re- The principal topics considered at the Supervisory Board’s cent years in the 2008 fiscal year, amid an increasingly dif- meetings were in particular the financial crisis, its direct ficult economic environment. In addition to establishing a impact on the real economy, and the currently unforesee- new record for manufacturing output, the Company de- able consequences for the automotive industry and in par- livered over one million premium cars of the Audi brand for ticular the Audi Group. Other major issues for consultation the first time in its history. Moreover, revenue and key earn- included the Company’s technological responses to the ings ratios reached new all-time highs. The Supervisory Board continuing debate about CO2 emissions, and extensive dis- would like to take this opportunity to thank the manage- cussions about market opportunities and risks for the Audi ment, the elected employee representatives and the staff core brand based on the current and future model range. for everything they did to make this achievement possible. In addition, the Supervisory Board devoted considerable All seats on the Supervisory Board were up for re-election attention to the mandatory offer by Porsche Automobil during the past year. With the close of the Annual General Holding SE, Stuttgart, to the shareholders of AUDI AG Meeting on May 7, 2008, Dr. Thomas R. Fischer, Dr. Claus on September 25, 2008 and, jointly with the Board of Helbig and Dr. Axel Freiherr von Ruedorffer retired from Management of AUDI AG, published an opinion pursuant the Supervisory Board. The Supervisory Board greatly ap- to Section 27 of the German Securities and Takeover Act preciated their constructive advice and critical questioning, (WpÜG) on October 16, 2008. In view of the financial and voices its sincere thanks and indebtedness to Dr.